Financials Operadora de Sites Mexicanos, S.A.B. de C.V.

Equities

SITES1 A-1

MX01SI0C0002

Wireless Telecommunications Services

End-of-day quote Mexican S.E. 06:00:00 2024-05-08 pm EDT 5-day change 1st Jan Change
20.75 MXN +2.27% Intraday chart for Operadora de Sites Mexicanos, S.A.B. de C.V. +0.92% -13.32%

Valuation

Fiscal Period: December 2022 2023 2024 2025 2026
Capitalization 1 62,079 76,283 65,938 - -
Enterprise Value (EV) 1 62,079 113,414 81,707 87,758 85,480
P/E ratio 128 x 95.8 x 54.9 x 30.8 x 28.1 x
Yield - - 3.02% 2.86% 3.91%
Capitalization / Revenue 5.71 x 6.42 x 5.03 x 4.8 x 4.52 x
EV / Revenue 5.71 x 9.54 x 6.24 x 6.38 x 5.87 x
EV / EBITDA 6.17 x 10.1 x 6.69 x 6.87 x 6.37 x
EV / FCF - 25.7 x 13.9 x 13.2 x 13.4 x
FCF Yield - 3.89% 7.18% 7.56% 7.44%
Price to Book - 2.71 x 1.25 x 1.74 x 1.74 x
Nbr of stocks (in thousands) 3,238,317 3,186,410 3,176,221 - -
Reference price 2 19.17 23.94 20.76 20.76 20.76
Announcement Date 2/8/23 2/20/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Net sales 1 - 10,867 11,888 13,099 13,751 14,574
EBITDA 1 - 10,065 11,257 12,205 12,777 13,422
EBIT 1 - 4,197 4,737 7,572 7,256 8,338
Operating Margin - 38.62% 39.85% 57.8% 52.77% 57.21%
Earnings before Tax (EBT) - 791.8 1,580 - - -
Net income 1 48.28 106 410.1 1,205 2,150 2,356
Net margin - 0.98% 3.45% 9.2% 15.63% 16.17%
EPS 2 7.810 0.1500 0.2500 0.3782 0.6747 0.7394
Free Cash Flow 1 - - 4,411 5,866 6,631 6,361
FCF margin - - 37.11% 44.78% 48.22% 43.65%
FCF Conversion (EBITDA) - - 39.18% 48.06% 51.9% 47.39%
FCF Conversion (Net income) - - 1,075.51% 486.74% 308.44% 269.98%
Dividend per Share 2 - - - 0.6277 0.5938 0.8117
Announcement Date 2/17/22 2/8/23 2/20/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 2,566 2,749 2,679 2,873 2,836 2,948 2,988 3,105 - 3,220 3,293 3,389
EBITDA 1 2,426 2,490 2,532 2,618 2,697 2,768 2,840 2,952 - 3,087 3,157 3,249
EBIT 1 924.7 1,093 1,027 1,153 1,085 1,144 1,185 1,322 - 1,854 1,821 1,866
Operating Margin 36.04% 39.75% 38.32% 40.15% 38.27% 38.81% 39.68% 42.57% - 57.58% 55.3% 55.06%
Earnings before Tax (EBT) - - - - - - - - - - - -
Net income 1 -34.8 17.1 -38.54 162.3 -28.01 162.3 85.28 190.6 - 384 355 487
Net margin -1.36% 0.62% -1.44% 5.65% -0.99% 5.51% 2.85% 6.14% - 11.93% 10.78% 14.37%
EPS 2 -0.0100 0.0400 -0.0119 0.0800 -0.0200 0.0800 0.0600 0.0900 -0.0400 0.1205 - 0.1528
Dividend per Share 2 - - - - - - - - - - - 0.6300
Announcement Date 4/28/22 7/27/22 10/27/22 2/8/23 5/2/23 7/28/23 10/24/23 2/20/24 4/26/24 - - -
1MXN in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 37,132 15,769 21,819 19,541
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) - - 3.298 x 1.292 x 1.708 x 1.456 x
Free Cash Flow 1 - - 4,411 5,866 6,631 6,361
ROE (net income / shareholders' equity) - - 1.48% 9.27% 6.6% 7.56%
ROA (Net income/ Total Assets) - - 0.39% 4.25% 4.29% 4.09%
Assets 1 - - 104,095 28,364 50,078 57,591
Book Value Per Share 2 - - 8.820 16.60 11.90 11.90
Cash Flow per Share - - 2.220 - - -
Capex 1 - - 2,668 3,000 2,856 2,769
Capex / Sales - - 22.44% 22.9% 20.77% 19%
Announcement Date 2/17/22 2/8/23 2/20/24 - - -
1MXN in Million2MXN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
3
Last Close Price
20.76 MXN
Average target price
19.47 MXN
Spread / Average Target
-6.23%
Consensus
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